Intensified tax for rental housing

housing prices up 0.2 percentHousing.Photo: pixabay.com

The budget compromise will make it more expensive for those who drive a car to and from work and increases the tax on secondary housing.

The tax-free rate for car allowance has been reduced by 30 øre per kilometer in the settlement that was reached between the government and the cooperative parties Venstre and KrF on Saturday. The decision will effectively provide an annual increase of NOK 200 million more to the state.

Simultaneously, the secondary housing appreciation discount is set to 10 percent of its estimated market value. The government’s original proposal was a discount of 20 percent.

This means that owners of rental housing will be taxed more for their properties, except for the property they live in.

The increased tax on secondary housing will provide an additional NOK 220 million to the state on an annual basis.

 

Source: NTB scanpix / Norway Today

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